BPCE's Green Bond to refinance Sustainable Agriculture assets

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Natixis acted as Sole Bookrunner and Sole Green Structurer for the issuance of EUR750 million in Senior non preferred Green Bond devoted to sustainable agriculture, a first in Europe

On Tuesday 4th January, BPCE reopened the € Senior Non Preferred (SNP) market with a dual-tranche €750m 6NC5 Green and €1bn 10-year bullet transaction. The Green format for the 6NC5 €750m tranche is BPCE’s inaugural Sustainable Agriculture bond, following the publication of its new methodology note, in line with its ambition to be a repeat sustainable issuer.

The transaction is geared to refinance assets of the Banque Populaire retail banks, the third-largest banking player in the agricultural sector in France. For many years the Banque Populaire local counters have been supporting the agricultural transition and the transformation of production models towards a more sustainable and more local form of agriculture which respects natural resources and biodiversity and thereby enables farmers to adapt to climate change.

With this transaction, Groupe BPCE has become the first European issuer to raise liquidity devoted to refinance sustainable agriculture-linked assets, through this €750m green bond tranche issue. This maiden €750m green issue represents an innovation by Groupe BPCE with the publication of the first Sustainable Agriculture methodological note.

This 6NC5 green issue adds to the existing ESG bonds/RMBS issued by the Group, expanding the total outstanding to over €10bn, and thereby confirms Groupe BPCE’s sustainability and climate commitments.

 

To go further :

  • Framework, SPO and Investor Presentation: Link
  • Press release: Link 

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